According to Datahorizzon Research, The composite materials market was valued at USD 115.3 Billion in 2022 and is projected to reach USD 263.2 Billion by 2032 at a CAGR of 8.7%.

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Composite materials are paramount to several industries, such as steel, construction, automotive, aerospace, and transportation.

The demand for durable and anti-resistant composite materials is rising with increasing urbanization. Additionally, composite materials dominate the design of infrastructural developments in urban areas because traditional materials such as wood, and steel remain incompliant and infeasible for complex constructions.